Reso 2010-068 - Laserfiche WebLink

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D. Eligible Rollover Distributions. 1. Notwithstanding any provision of the Plan to the contrary that would otherwise limit a Distributee's election under this Method Of Payment Of Benefits section, a Distributee may elect, at the time and in the manner prescribed by the Administrator, to have ariy portion of an Eligible Rollover Distribution paid directly to an Eligible Retirement Ptan specified by the Distributee in a payment by the Plan to the Eligible Retirement Plan specified by the Distributee. 2. Notwithstanding the foregoing, in the event that the Participant or the Participant's Beneficiary elects, in the manner set forth above,. a distribution that constitutes an Eligible Rollover Distribution, and if the Distributee of the Eligible Rollover Distribution (i) elects to have such distribution paid directly to an Eligible Retirement Plan and (ii} specifies the Eligible Retirement Plan to which such distribution is to be paid, in such form and at such time as the Administrator may prescribe, then such distribution shall be made in the form of a direct trustee-to-trustee transfer to the Eligible Retirement Plan so specified. E. Transfers To Other Code Section 457(b) Plans. If (i) a Participant has a Severance From Employment, (ii) such Participant is entitled. to benefits under this Plan, (iii) such Participant is subsequently employed by another employer that is an eligible employer within the meaning of Code section 457(e)(1)(A), and (iv) such employer maintains a Code section 457(b) eligible deferred compensation plan, the Participant may request (before the Participant's Account is paid) that the Participant's Account under the Plan shall not be distributed to the Participant, but shall be transferred to such employer's plan; provided that: 1. Such employer and such employer's plan will accept the transfer; 2. Such a transfer in no way reduces .such employer's obligations to the Participant under such employer's plan; 3. Such transfer is accomplished in accordance with the requirements of Code section 457(e)(10) and the Treasury regulations promulgated thereunder; and 4. The Employer and the Participant. have entered into such agreements as the Employer deems necessary or appropriate, in the Employer's sole and absolute discretion, to assure that the Employer's obligations to pay benefits to the Participant under this Plan have been fulfilled by virtue of such a transfer and that the Employer shall have no further obligations to the Participant under the Plan. The Employer may require such documentation as it deems necessary or appropriate, in its sole and absolute discretion, from the other employer in order to ensure that the requirements set forth above have been satisfied, and in order to effect the transfer. F. Distribution Elections. Elections under this Payment Of Benefits article shall be made in such form and manner as the Administrator may specify from time to time. Any prior irrevocable elections as to the form or timing of distributions may be revoked by mutual agreement of the Administrator and the affected Participant. 18